First Medical Technology Incubator Created in India
Wednesday, January 13, 2016
India is a country known for its rich culture and amazing food, but for a country of more than 1.2 billion individuals, medical technologies are largely neglected. That is what makes InnAccel such a unique startup. It’s the first and currently only medical technology incubator in India.
What Is a Technology Incubator?
A technology or startup incubator is a term and practice that has been emerging in recent years. Startup companies have become so popular and prevalent that well-established individuals have been setting up incubators. Just like an incubator on a farm helps eggs to grow and thrive, these startup incubators are designed to help fledgling companies come into their own.
Medicine in India
The public health system in India is often overwhelmed, underfunded and in places, falling apart completely. People who can afford privately funded treatment often do, but that leaves a large portion of the population being cared for by a public health system that is stretched too thin.
It has made great strides in the last 10 years, with accomplishments such as eliminating polio in India, but there are still some sectors of the medical community that could use vast improvement.
InnAccel is the first technology incubator of its type in India, designed to help create a functional and thriving medical technology industry.
The first step in bringing medical technology to India is to raise money to fund startups that will help establish a good foundation. InnAccel is working to raise capital to get this whole thing off the ground by reaching out to wealthy supporters and some business partners to raise between $10 and $12 million.